Nokia makes a LOT of phones extremely popular all over the world and they have adopted Windows Phone as its primary smartphone strategy. Yes Nokia CEO Stephen Elop use to work at Microsoft. I think its great for both companies. Will we look back 3 years from now as today as a major turning point in Phones?

Here are some of the details.

While the specific details of the deal are being worked out, here’s a quick summary of what we are working towards:

• Nokia will adopt Windows Phone as its primary smartphone strategy, innovating on top of the platform in areas such as imaging, where Nokia is a market leader.

• Nokia will help drive and define the future of Windows Phone. Nokia will contribute its expertise on hardware design, language support, and help bring Windows Phone to a larger range of price points, market segments and geographies.

• Nokia and Microsoft will closely collaborate on development, joint marketing initiatives and a shared development roadmap to align on the future evolution of mobile products.

• Bing will power Nokia’s search services across Nokia devices and services, giving customers access to Bing’s next generation search capabilities. Microsoft adCenter will provide search advertising services on Nokia’s line of devices and services.

• Nokia Maps will be a core part of Microsoft’s mapping services. For example, Maps would be integrated with Microsoft’s Bing search engine and AdCenter advertising platform to form a unique local search and advertising experience

• Nokia’s extensive operator billing agreements will make it easier for consumers to purchase Nokia Windows Phone services in countries where credit-card use is low.

• Microsoft development tools will be used to create applications to run on Nokia Windows Phones, allowing developers to easily leverage the ecosystem’s global reach.

• Microsoft will continue to invest in the development of Windows Phone and cloud services so customers can do more with their phone, across their work and personal lives.

• Nokia’s content and application store will be integrated with Microsoft Marketplace for a more compelling consumer experience.